Yearly Archives: 2012

Looking for Traction on the Edge of the Fiscal Cliff

With the election behind us and hurricane season brought to a dramatic conclusion by Hurricane Sandy, the U.S. economy lurches, stumbles or fades at the end of 2012. The three verbs all imply a transition from the deceptively solid 2.7 … Continue reading

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October International Trade, JOLTS, November NFIB Survey

            Business Optimism Fell in November, Survey Says Election to Blame The U.S. International Trade gap widened slightly as expected in October to -$42.2 billion. The NFIB Index of Small Business Optimism declined a sizeable 5.6 points in November. The … Continue reading

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Auto Affordability Better in Third Quarter

The purchase and financing of an average-priced new vehicle took 23.1 weeks of median family income in the third quarter of 2012, according to Comerica Bank’s Auto Affordability Index. Consumers on average spent $75 less on new cars in the … Continue reading

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Comerica Economic Weekly

The BLS reports that payroll employment increased by 146,000 jobs in November and the unemployment rate declined from 7.9 to 7.7 percent. According to the Bureau of Labor Statistics Hurricane Sandy “did not substantively impact the national employment and unemployment … Continue reading

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November U.S. Employment

 No Substantive Impact From Hurricane Sandy According to BLS, U Rate Down to 7.7 Percent The November Payroll Employment Survey showed a gain of 146,000 jobs, beating expectations. The Unemployment Rate for November fell to 7.7 percent as the labor … Continue reading

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Phoenix Recovery Advances, but Downside Risks Lurk

Improvement in Phoenix’s unemployment rate stalled in the third quarter, at a flat 7.2 percent. Although stationary, Phoenix unemployment is 0.9 percent below the national rate for Q3. Payroll job growth in Phoenix continues to outpace that of the nation, … Continue reading

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Southern California Improving, But Still Lagging

The Southern California economy is showing signs of improving, as payroll jobs increase and housing markets slowly heal. We emphasize the slowly in the previous sentence because the region remains plagued by high but improving foreclosure rates, especially in inland … Continue reading

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Northern California Finishes 2012 with Momentum

Job growth in the San Francisco and San Jose metro areas remains strong, driven by a robust high tech sector and a recovering housing market. On a year-to-year basis payroll employment in the San Francisco metro area was up 2.7 … Continue reading

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Miami Real Estate Markets Expected to Firm Up in 2013

After spiking at the end of 2011, Miami payrolls have declined for the last two quarters. Miami job growth is expected to be just 0.6 percent for full-year 2012, well-below the nationally forecast rate of 1.4 percent. Miami’s unemployment rate … Continue reading

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Detroit Stabilizes After Auto Bounce

Job growth in the Detroit metro area is easing in late 2012 after beating the U.S. average through 2011. On a year-ago basis, payroll jobs in Detroit were up 0.4 percent in October, compared with 1.5 percent for the U.S. … Continue reading

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